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Subject Expert
Millennial. Capitalism made big law but also made mini golden doodle puppies, so I’m torn.
Damnit. I’ll be up thinking about this for days
Bad
Xoxo,
anarcho-communist millennial
Good, but not perfect. Government regulation makes the system better, but often falls short. Better than pure socialism or communism, but socialism/communism shouldn’t be such dirty words to some people. Every capitalist economy I can think of includes elements of socialism or communism. Generally that’s a good thing. I wish we had more (e.g., universal healthcare and schooling through college).
Generally same view, Gen Z.
I work in energy though and regulation often turns into regulatory capture by large corporations, especially in the oil and gas space.
Great in the right contexts and with proper regulations and safety nets buttressing it, disastrous without those things. Millennial.
Subject Expert
Millennial. I would describe it as the least bad system. It’s terrible but everything else is worse IMO. And when I say capitalism I mean capitalism with at least some regulation, not just straight up mother market knows best and 💯 of our decisions should be based on what consumers are willing to pay for and what companies are willing to do to improve their bottom line. Probs some more socialism elements in there but not straight up socialism either.
Millennial. Laissez faire capitalism is terrible and literally doesn't work.
I'm an antitrust lawyer, and let me be the first to tell you that if given the chance, companies would absolutely collude to make their prices as high as possible.
Greatest Generation - it’s fabulous son.
😬
Millennial - more good than bad. Certainly better than the alternatives.
I’m Gen X and my answer is that the capitalist system in the US should be considered a failure until we do the following:
- legalize and implement medicare for all
- reduce reliance on police in urban areas for mental health and social services (see CureViolence and Overdose Prevention Clinics for examples of other groups doing a better job than police in this regard)
- raise public school teacher pay (the RAISE Act would be a good start)
- raise minimum wage
- make voting easier, through early voting, same day registration, and increase civic engagement with things like participatory budgeting
However we can get these things done, we need to do it. Call it what ever you want. Doesn’t matter. If we do all of this stuff and the so-called capitalists want to take credit for it, great, whatever. If the so-called socialists claim ownership, whatever. We need to do these things immediately regardless of how its framed politically. The current system is failing so many people in this country. We can do so much better. Don’t tell me that we don’t have the money for these changes. We’re capitalists for god’s sake; finding money is our whole damn thing. What we lack is willpower in leadership. So, we have to put pressure on politicians and corporations through a combination of votes, protests and boycotts.
Again, I don’t care what you call it. But, in my opinion, a future US where we have all of those things I listed above in place would probably still be best characterized as a capitalist economy. So what? Who cares. As long as I can go to the doctor without worrying about going bankrupt; as long as I can call 911 (or perhaps an alternative emergency number that is yet to exist?) without fear of endangering my community by bringing armed police officers to my neighborhood; as long as teachers at public schools in my area feel properly resourced, incentivized and empowered to be the best educators they can be; as long as young people entering the work force are able to do more than live paycheck-to-paycheck; and as long as barriers to voting are permanently removed, this country will be a better place to live for everyone regardless of your persuasion towards capitalism, socialism or whatever.
I love you
Xoxo,
anarcho-communist millennial
Zillennial. Capitalism as we know it is antithetical to human flourishing. I believe in free and voluntary trade, but (1) an enterprise’s profit as an indicator of its value to society and (2) the glorification of economic efficiency (maximizing satisfaction of individual preferences as measured by willingness to spend) are such demonstrably dumb ideas
Millennial - Capitalism doesn’t care whether we think it’s good or bad
Community Builder
Lol, but I’m the one asking the question, not capitalism
Mentor
I don't think about it. I just want to be at the top of the social pile regardless of what system I'm in.
Gen Z - More of a free enterprise kind of guy but they don’t let me make the rules
Millennial - Not perfect, but better than every other system, as it is premised on harnessing a fundamental human attribute: greed. Communism and socialism attempt to disregard that attribute, but eventually it resurfaces in the leaders.
Of course, government must step in to curb capitalistic greed at some point. Otherwise we end up with scenarios where excessively greed people with excessive resources consume or control vast swaths of society.
Boomer - works great, just put yourself out there! Work hard for a company or hang a shingle, you can’t lose
TG